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Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Financial Information | The following is an analysis of certain line items in the Consolidated Statements of Income by quarter for 2020 and 2019:
(in millions, except per share data) | 1 st Quarter |  | 2 nd Quarter |  | 3 rd Quarter |  | 4 th Quarter
2020 |  |  |  |  |  |  |
Net sales(1) | $ | 384.1 |  |  | $ | 366.9 |  |  | $ | 444.1 |  |  | $ | 460.1 |
Gross profit | 112.2 |  |  | 110.0 |  |  | 127.1 |  |  | 143.1 |
Operating income | 17.4 |  |  | 18.5 |  |  | 34.3 |  |  | 42.2 |
Net income | $ | 8.0 |  |  | $ | 5.4 |  |  | $ | 18.8 |  |  | $ | 29.8 |
Per share: |  |  |  |  |  |  |
Basic income per share (2) | $ | 0.08 |  |  | $ | 0.06 |  |  | $ | 0.20 |  |  | $ | 0.31 |
Diluted income per share (2) | $ | 0.08 |  |  | $ | 0.06 |  |  | $ | 0.20 |  |  | $ | 0.31 |
2019 |  |  |  |  |  |  |
Net sales(1) | $ | 393.9 |  |  | $ | 518.7 |  |  | $ | 505.7 |  |  | $ | 537.4 |
Gross profit | 125.8 |  |  | 165.8 |  |  | 155.9 |  |  | 186.0 |
Operating income | 17.9 |  |  | 61.4 |  |  | 48.8 |  |  | 68.1 |
Net income | $ | (0.6) |  |  | $ | 35.9 |  |  | $ | 28.0 |  |  | $ | 43.5 |
Per share: |  |  |  |  |  |  |
Basic income per share (2) | $ | (0.01) |  |  | $ | 0.35 |  |  | $ | 0.29 |  |  | $ | 0.45 |
Diluted income per share (2) | $ | (0.01) |  |  | $ | 0.35 |  |  | $ | 0.28 |  |  | $ | 0.44 |
(1) Our recent acquisition of PowerA and previous acquisitions in Mexico and Brazil have increased the size of our seasonal businesses. As a result of the seasonal nature of the demand for our products, we have generated, and we expect to continue to generate, a significant percentage of our sales and profit during the second, third, and fourth quarters. However, our cash flow seasonality is almost all in the second half of the year, as the cash inflow in the first quarter is consumed in the second quarter as inventory. Our third and fourth quarter cash flow comes from completing the working capital cycle and collecting our accounts receivable. (2) The sum of the quarterly earnings per share amounts may not equal the total for the year due to the effects of rounding, dilution as a result of issuing shares of common stock and repurchasing of shares of common stock during the year.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121640914&loc=d3e1280-108306 + Details
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